Sell a Business Tips
Selling a Scrimshaw Business
No one said selling your business in a depressed economy would be easy. But selling your scrimshaw business doesn't have to be as daunting as it sounds.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a scrimshaw business, but have limited capital to get their foot in the door.
If your exit strategy involves selling a scrimshaw business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your scrimshaw business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Valuation Methods
The methods for valuing a scrimshaw business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. Appraisals based on the asset method gauge value as a factor of the company's real property and non-tangible assets; appraisals based on the income method consider the business's anticipated revenue. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Preparing Your Scrimshaw Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive scrimshaw business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your scrimshaw business, the amount of preparation you perform will have direct correlation on asking and sale prices. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
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